98. Julie Lin, The Kidneys and Chamber Music
The 92 Report
Show Notes: Julie Lin was a medical student at Columbia's College of Physicians and Surgeons when she met her future husband. It was the first day of medical school and they met while attending a class where they were both serious amateur classical musicians. Julie talks about their shared love of music and how they planned to have a family quartet. The All-state Orchestra Model Julie shares her story of starting an orchestra at medical school, which initially had a traditional weekly rehearsal and concert. However, they found that the show rate was low as exam time approached, leading...
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97. Dennis Crowley, Medical Device M&A Executive
The 92 Report
Show Notes: Dennis Crowley started working for Tyco International in 1996 and spent five years in Europe, spending half his time in Paris and two and a half years in Brussels. This experience was enjoyable as it allowed him to work, sightsee, and travel around Europe. During his time in Europe, he had the opportunity to visit every country in Europe, including Spain, Italy, the UK, and France. He moved back to Florida, then lived in New England for 25 years before settling just south of Boston. Dennis worked in various divisions at Tyco until 2007, where he worked in their healthcare...
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96. Natalia Tsarkova, Media Entrepreneur and Filmmaker
The 92 Report
Show Notes: Title: Media Entrepreneur and Filmmaker Show notes: Natalia Tsarkova, a transfer student from Latvia, was the first student from the former Soviet bloc to apply to an American college. She was thrown into a completely different world and roles, but knew she wanted to create more contexts for others to transform their lives like she didher life. Growing up in Latvia, she watched pirated MTV videos and credits seeing Billy Jean for the first time for inspiring her to work in the media space. In 1993, she met a professor at the MIT Media Lab, who recognized her mixed...
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95. William Cheng, Hospitalist and Singer
The 92 Report
William Cheng has been working in the Silicon Valley area since 2000. He graduated from Harvard as a bio concentrator and later attended UCLA's David Geffen School of Medicine. He completed residency training in internal medicine at Santa Clara Valley Medical Center, a county hospital affiliated with Stanford Hospital System. He then joined the Palo Alto Medical Foundation as a hospitalist, focusing on acutely ill patients. Working as a Hospitalist William's understanding of the world has changed over the two decades as a hospitalist. He now understands the importance of non-hard science...
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94. Jeanne Simpson, Actor/Dancer/Choreographer/Director/Teacher
The 92 Report
Jeanne Simpson moved to New York after graduating. She started doing day jobs in New York City to make ends meet while attending free dance classes, which allowed her to continue her training without having to pay for grad school. She eventually joined the American Isadora Dance Company, a modern company. Beginning a Career in the Performing Arts Jeanne began her acting career at HB Studios, where she was given a scholarship and studied under Austin Pendleton, a talented teacher who taught the advanced Acting Program at HB. She worked with other amazing actors and learned to choreograph scenes...
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93. Joshua Brandon Holden, Math Professor and Author of The Mathematics of Secrets
The 92 Report
Joshua Brandon Holden, the author of The Mathematics of Secrets, Cryptography from Caesar Ciphers to Digital Encryption, graduated with a degree in pure math and went on to teach at the University of Massachusetts and Duke. He discovered that he was spending most of his time on teaching, so he sought jobs where they would reward teaching. He then worked at the Rose Hulman Institute of Technology, where he did both teaching and research. Common Misconceptions about Cryptography Joshua discusses common misconceptions about cryptography and its connection to the internet. He explains that...
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92. Mark Jacobstein, Accidental Entrepreneur
The 92 Report
Mark Jacobstein resides in Stanford, California with his wife, two children, and his mother in law. Mark's career has primarily focused on entrepreneurial technology, primarily in health tech, biotech, molecular diagnostics, and digital health arenas. After Cambridge, he worked with Scott Murphy, a close friend and business partner. He moved to California in 2003 to start a technology company and has been there ever since. He lives on the Stanford campus, which allows his children to grow up on a college campus. Founding a Fantasy Sports Business Mark shares his journey from writing...
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91. Andreas Stavropoulos, Entering the Third Act
The 92 Report
Andreas Stavropoulos, a venture capitalist and entrepreneur, came to the United States from Greece at 18 and has been in the United States ever since. His big moves include marrying his high school sweetheart, arranging their lives around graduate school, medical school, business school, and moving to California. He is now 55-years-old and is excited about the third act of his life, where he can choose where to spend his time more than he used to. A Career as a Venture Capitalist Andreas started his career as a venture capitalist in 1999 and has been doing so for over two and a half years. He...
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90. Shannon Frison, Marine and Judge
The 92 Report
Show Notes: Shannon Frison joined the United States Marine Corps during her time in law school. She spent her second year at officer candidate school and became commissioned as an officer. After law school, she returned to Massachusetts, worked for a year at the TAs office, took the bar, and went on active duty with the Marine Corps. After serving at Marine Corps Air Station, New River, North Carolina, she worked for a litigation firm called Dwyer and Clora before opening a law firm. In 2009, she applied for the bench in Massachusetts and was appointed to the Boston Municipal Court. She then...
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89. Anastasia Fernands, Patent Litigator
The 92 Report
Show Notes: Anastasia Fernands has been practicing law since graduating from NYU. She started practicing in Boston at Hutchins, Wheeler and Dittmar, which was the oldest continuously running firm in Boston at the time. Anastasia has since moved to New York and now practices at Quinn Emanuel. Anastasia’s career primarily focuses on intellectual property litigation, particularly patent litigation since the mid to late 90s. At that time there were two schools of thought on patent litigation: technical people who understood technology and those who were litigators by trade. There was a...
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Ivan Montoya, a graduate of Harvard and Radcliffe, shares his journey since graduating from the university. He married a woman he had been dating at Harvard and moved to California and Stanford for business school in 1995. Ivan worked in McKinsey in the Houston office and in Mexico City. He moved to New York in the third year, but moved to the Bay Area just as the internet went public and he started working on projects in technology. About four years ago, Ivan started angel investing in early-stage Latin American startups.
Ivan was born in Colombia and moved to the US when he was young. Both his parents were doctors, and Ivan was expected to go into the same field, however, after agreeing to finish pre-med, he decided to focus on development economics and did his thesis on Colombia during his time at Harvard with the goal of helping Columbia. After working at McKinsey in Mexico City, he returned to Colombia in 2013, and went back in 2018, and this was a hugely influential experience for Ivan. He believed the next 20 years in Latin America were going to be just as important in technology as China was in 2000 and that he needed to get involved. Ivan shares the beginning steps of this journey that led to 40 investments and involvement in the ecosystem with accelerators and startup communities in Latin America.
Ivan talks about the startup tech scene across Latin America, focusing on three areas: FinTech, property tech, and supply chain and mobility. He shares stories about his investment in early-stage companies, mostly in Spanish-speaking Latin America. The hotbed in Spanish-speaking Latin is Mexico City, which is considered the Mecca of the tech scene. The other Mecca is Sao Paulo, and Bogota, Colombia, which he refers to as the Mountain View of the tech scene. Ivan also discusses the accelerator scene. He is involved with several Latin American companies that go through Y Combinator, including Platon Ventures, which started in Chile, and other startup communities like Latitude and TechStars. He also mentors at TechStars in Miami, where many Latin American founders attend. Ivan's experience with Y Combinator has been invaluable, as it has helped many Latin American startups gain access to the tech ecosystem and accelerator scene. He also highlights the importance of fostering strong connections with local startups and accelerators to foster growth and success.
Proptech and Fintech Startups
Ivan explains the issues facing Prop Tech such as access to credit and the availability of credible property listing platforms. Some companies working with Prop Tech are addressing these issues, such as Go Home in Peru, which aims to create the Zillow of Latin America, and other real estate systems. Access to credit is also a challenge in Latin America, with only 20% or less of the population owning a home using a mortgage. He explains that, in the informal economy, many people lack access to credit bureaus, making it difficult for them to access services like renting apartments or buying a car. Ivan talks about his investments in startups with the goal to improve the financial infrastructure and improve access to credit for those in the informal economy. He invested in a company called Jeeves, a B2B credit card and talks about a concept in Chile, called Built Rewards, which allows people to pay rent and utilities with a credit card to earn rewards and improve their credit score. He talks about how he invested in a 20-year-old founder with no college degree who wanted to start a car ownership/lending company.
How an Investor Sources Startup Founders
Ivan has a unique approach to sourcing founders. He believes that there is a lot of bias in the market, as many founders come from wealthy families and have a background in the US. However, Ivan's approach is inspired by Silicon Valley which is more meritocratic, focusing on founders who are doing great work and have traction. He takes numerous first meetings with founders, often focusing on metrics and traction. His primary referrals come from other founders, and he works with these founders for anywhere from one to three months before making an investment. This allows them to learn more about Ivan and he learns more about their company. Ivan illustrates how this works with a story from a startup he invested in.
Ivan has been investing in startups for four and half years. He has backed 40 founders and helped hundreds of founders active in Colombia, Mexico, Peru, and Bolivia. He also uses WhatsApp to connect with founders in Latin America, and he receives numerous referrals from founders, which is beneficial as they can vouch for Ivan as an investor. He is involved in the startup community and mentors in big groups, which has led to referrals from founders. One founder reached out to him after watching him talk on a webinar. He states that his job is not to refer a startup lead to an investor and how a selfie on LinkedIn helped raise the profile of many founders and shares what he learned from posting a profile for his cat on Instagram.
A Freemium Model to Help Startup Founders
Ivan talks about his approach to helping founders with his freemium model. He focuses on three areas: pitch decks, professional brainstorming, and connecting founders with potential investors. In the first 30 minute introductory meeting, he listens to the founders' pitch or describe their model, and then engages in 10-20 minutes of professional brainstorming. He provides constructive feedback and helps them understand their business model in more depth and explains how he helps them dig deeper to relay the benefits to an investor. In the second meeting, he introduces the founder to other investors. He talks about the pitch deck as a strategy document that is high leverage, and how he uses his experience as a consultant and McKinsey to help them refine their pitch. He believes that the first meeting should filter out potential investors and focus on assessing traction, product market fit, and indications of people wanting what the founders have created. He shares the key points of what he looks for when investing in both the founder and the startup.
Ivan states that he is an equal opportunity investor, with people from all backgrounds and shares stories of some of the founders he has backed, including a company called Foodology and a company called Pick App. He believes in the laws of economic gravity and believes that even those without connections to the US may still have resources.
Coco the Cat - An Instagram Success
Ivan shares his story of starting an Instagram account with his Bombay cat, Coco. It started as a bet with his daughter that he could gain 1000 followers within a set time period. So, he started posting pictures of Coco on Instagram and using various tactics, such as following other popular cats. He eventually got banned from Instagram for a day or two because he’d followed so many people the bots thought he was a bot. He then discovered that pictures with kids perform better, and he started doing pictures with kids. However, he hit a wall when he reached 6000 or 7000 followers, but he noticed a lot of comments with Japanese characters and decided to post during Tokyo rush hour, which took him over the top and he reached 10,000 followers.
Influential Professors and Courses at Harvard
Ivan talks about his experience with Professor Dominguez’ Cuban Revolution course at Harvard. He highlights the content's interesting structure, which included a three-day class with one position on an argument and the another on the importance of individual on the issue. One of the key takeaways from the course was the importance of being open to different perspectives and seeking the truth. He also highlighted the importance of being a lifelong learner and never assuming one's knowledge is the truth. This experience has helped him meet many people he is still close to.
Timestamps:
02:50 How Ivan became an investor in startups
08:56 Ivan’s areas of focus
11:39 The accelerator scene in Latin America
15:09 Investing in Proptech
19:47 Companies Ivan has invested in
23:12 Ivan’s investment model
28:50 How Ivan builds awareness as an investor
34:41 How Ivan helps founders through his freemium model.
39:01 How Ivan assesses founders and startups
43:48 A view on investors’ bias
47:13 Ivan’s criteria for getting a cat and what not to do on Instagram
Links:
Website: https://numundoventures.com/
Coco the cat: https://www.instagram.com/coco.the.cat/
The Tim Whitmire episode: https://92report.com/podcast/episode-49-tim-whitmire-founder-at-cxn-advisory/
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